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1
Varshney, Anurag. "Adverse Effect of Demonetization in India." International Journal of Advance Research and Innovation 5, no. 2 (2017): 10–14. http://dx.doi.org/10.51976/ijari.521702.
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Demonetization in India is adverse effected Indian economy. It assumes that in long run it will be positive for economic growth, development and GDP. Black Money market will be finished and Indian currency value will be increased at International level. India faces a big revolution change in economy as aversive or supportive. Predictions and problem could be study but only Future can shoe the right result. Indian economy has to have stood very strongly at world level Economic Growth. The study is defining the adverse effect on economy during Demonetization Period.
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Arora, Taruntej Singh, and Suveera Gill. "Impact of corporate tax aggressiveness on firm value: evidence from India." Managerial Finance 48, no. 2 (December 1, 2021): 313–33. http://dx.doi.org/10.1108/mf-01-2021-0033.
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PurposeThere is mixed evidence in the extant literature on the firm value implications of corporate tax aggressiveness in the developed economies. There are, however, limited studies that discuss this relationship in the case of emerging economies. The present study aims to bridge this research gap by exploring the relationship between corporate tax aggressiveness and firm value in context of the Indian economy.Design/methodology/approachThe sample comprises 547 S&P BSE 500 (Standard and Poor's Bombay Stock Exchange 500) Index companies for Financial Year (FY) 2009–10 through FY 2018–19. A fixed-effects panel model has been used to discern the impact of corporate tax aggressiveness on firm value with and without the moderating effect of a proxy for corporate governance strength.FindingsThe results highlight a significant negative relationship between corporate tax aggressiveness and firm value in India, whilst the analysis on the moderating effect of corporate governance strength on this relationship revealed a mix of significant and insignificant results. These results were robust to an alternate specification of the corporate governance strength proxy, the system GMM estimation employed to deal with endogeneity and a change in the Corporate Social Responsibility (CSR) regulation brought into effect by the Companies Act, 2013.Originality/valueThe study reveals a firm value discount associated with corporate tax aggressiveness in India which is likely due to its ability to increase opportunities for wealth expropriation by managers. This can further be attributed to the ineffective corporate governance mechanisms that make agency problems more severe in the case of emerging economies like India.
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Mann, Bikram Jit Singh, and Sonia Babbar. "New product announcements effect on stock prices in India." Journal of Asia Business Studies 11, no. 4 (December 12, 2017): 368–86. http://dx.doi.org/10.1108/jabs-08-2015-0145.
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Purpose The purpose of this study is to study the impact of new product announcements on the shareholder value in India since; there is lack of perceptive results regarding the impact. Also, an attempt has been made to analyse the determinants of value creation, by industry type, which has so far escaped the attention of researchers. Design/methodology/approach First, standard event study methodology has been used to measure the abnormal gains/losses of the announcing firms for the new product introductions. Second, regression analysis has been conducted to find out the relationship between the shareholder value and the firm and industry characteristic variables. Findings The results of the study show that the announcing companies in India have got significant positive returns during the announcement of the new product. The value stands at 0.00455 for the event day. In the second part, the application of the regression test has found that firm size, R&D intensity, free cash flow, debt ratio and market size are significant variables in the determination of the shareholder value. Originality/value The present study goes a step further in establishing the reasons for value creation when new product announcements are made by the Indian firms. The analysis has been carried out industry wise to identify the determinants of shareholder value in different industries. This would guide the decision makers at the strategic level and players of the stock market at large in taking much more informed decisions.
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Chakravarti, Pritha, and Felix Boronczyk. "Corruption and Sponsor Value: An Event Study Analysis." International Journal of Sport Finance 16, no. 2 (February 1, 2021): 44–56. http://dx.doi.org/10.32731/ijsf/161.022020.04.
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This study quantifies the negative effects of corruption on sponsors of the Indian Premier League (IPL) and presents unbiased sponsor-linked outcomes as its results. The event study methodology was used for the purpose of measuring the reaction of the Indian shareholders to the unexpected event that was the decision of the Supreme Court of India to ban two teams and several officials from cricketing affairs for life in response to the discovery of corruption. The results of this study show there is an immediate loss in firm value for sponsors that are linked to events and teams proved to be corrupt. The negative effects are larger for firms that are event sponsors, as compared to team sponsors. Some sponsors of non-corrupt teams also suffered damage due to the announcement of the Court; however, this effect was short-lived and wore off relatively quickly.
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Sobti, Neharika. "Does Size, Value and Seasonal Effects Still Persist in Indian Equity Markets?" Vision: The Journal of Business Perspective 22, no. 1 (February 7, 2018): 11–21. http://dx.doi.org/10.1177/0972262917750230.
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This article is an attempt to re-examine the persistence of company fundamentals such as size and value effects along with seasonal anomalies, such as January, April and Diwali (November) effects, in explaining the cross-sectional variation in average return of portfolios in the Indian equity market. The study analysed 740–1530 companies on an average listed on NSE for the period of 1996–2016 taking Nifty 500 as the market index. The study follows the standard methodology of Fama and French (1993) in constructing size and value mimicking portfolios but the originality comes from formulating 30 size–value-sorted portfolios with size sorted on deciles. An attempt has been made to compare single-index model with Fama–French Three-Factor (FFTF) model in the present context. The study finds evidence of both size and value effect in India and non-existence of January, April and Diwali effects in India for the given period as found previously by Gupta and Kumar (2007), Connor and Sehgal (2001) and Tripathi (2008). The FFTF model does better job than single-index model.
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Mishra, Rakesh Kumar, and Sheeba Kapil. "Effect of board characteristics on firm value: evidence from India." South Asian Journal of Business Studies 7, no. 1 (March 5, 2018): 41–72. http://dx.doi.org/10.1108/sajbs-08-2016-0073.
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Purpose The purpose of this paper is to explore the relationship of board characteristics and firm performance for Indian companies. Design/methodology/approach Corporate governance structures of 391 Indian companies out of CNX 500 companies listed on National Stock Exchange have been studied for their impact on performance of companies. Structural equation modeling methodology has been employed on data for five financial years from 2010 to 2014 for selected companies. Market-based measure (Tobin’s Q) and accounting-based measure (return on asset) have been employed for measuring firm performance. Findings Empirical findings indicate that there is significant positive association between board size and firm performance. Board independence is found significantly related to firm performance. Number of board meetings is found to be sending positive signal to the market creating firm value. Separation of CEO and chairman of the board is found to be value creating and overburdened directors affect firm performance adversely. Findings also suggest that the governance-performance relationship is also dependent upon the type of performance measures used in the study. Research limitations/implications Limitations of this study are in terms of data methodology and possible omission of some variables. It is understood that the qualitative dynamics happening inside board meetings impact corporate performance. The strategic decisions-making process adopted by the boards to fight competition or to increase market share is not available in public domain easily. The decision-making processes and monitoring for implementation of these decisions could impact corporate governance-performance relationship. These parameters and their impact on corporate performance are not covered under the scope of the present study. However, the same could have thrown more light on governance-performance relationship. Originality/value The paper adds to the emerging body of literature on corporate governance-performance relationship in the Indian context using a reasonably wider and newer data set.
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Wardani, Vika, and Andrie Sunyigono. "Daya Saing dan Faktor yang Mempengaruhi Ekspor Lada Indonesia ke India." Jurnal Ekonomi Pertanian dan Agribisnis 5, no. 3 (July 1, 2021): 655–66. http://dx.doi.org/10.21776/ub.jepa.2021.005.03.5.
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Pepper is one of the export commodities that contributes significantly to the Indonesian economy. Indonesian pepper exports have fluctuated in destinations such as India, which is included in the world's largest pepper importer country. The study aims to analyze competitiveness (comparative advantage) and factors affecting Indonesian exports to India in pepper commodities. Revealed Comparative Advantage (RCA) and Multiple Linear Regression are analysis methods in research. The results showed that Indonesian pepper has strong competitiveness in the Indian market. Volume of Indonesian pepper exports to India has significant effect were the exchange rate of the rupiah against the US dollar and the value of RCA, while the national pepper production, the price of Indonesian pepper exports, and Indian consumption did not have a significant effect.
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Das, Kishore Kumar, and Shahnawaz Ali. "Effect of demonetization on microfinance industry in India." International Journal of Research in Business and Social Science (2147- 4478) 10, no. 3 (May 1, 2021): 352–56. http://dx.doi.org/10.20525/ijrbs.v10i3.1105.
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High-value denomination currency was scrapped off from the Indian economy on 8th November 2016, Rs. 500 and Rs. 1,000 currency notes were declared invalid at midnight hour. Taking such a bold step by Hon. Prime Minister of India Mr. Narendra Modi, means declaring 86% of cash in circulation an illegal tender overnight. This study is conducted on the immediate effect of demonetization on the microfinance industry in India and its after-effects in the later years. We have analyzed the data collected from the rural sector, on the collections and lending, impact on the farmers, how it has affected the small microfinance companies. We have also analyzed RBI’s initiative towards financial inclusion, Pradhan Mantri Jan Dhan Yojana (PMJDY), the emergence of new Small Finance Banks, Digital Banks, Payment banks, etc. We have critically analyzed the impact of cost versus the benefit from the demonetization exercise for the rural and microfinance industry. The aim of this study is to analyze the overall financial inclusion of the rural and small sectors towards the dream of a Cashless Economy.
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Dawar, Varun. "Earnings persistence and stock prices: empirical evidence from an emerging market." Journal of Financial Reporting and Accounting 12, no. 2 (September 30, 2014): 117–34. http://dx.doi.org/10.1108/jfra-06-2013-0044.
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Purpose – This study aims to investigate the persistence ability of accounting variables, namely, abnormal earnings, book value, accruals and cash flows over a period of time and their valuation relevance in Indian scenario. Design/methodology/approach – The study utilizes the generalized version of the Ohlson model which links market prices with abnormal earnings, book value and earning components (accruals and cash flows). Fixed-effect panel data regression is used to analyze six years of data on the sample units to determine the persistence and valuation relevance. Findings – The findings provide evidence on the construct of persistence and value relevance of earnings and book value of equity in the Indian context. The findings further confirm that investors in India are fixated on earnings and fail to attend separately to the cash flow and accrual components of earnings while undertaking their investment decisions. Practical implications – The empirical findings of the study will enable the analysts and investors to understand the relevance and persistence of accounting variables in case of an emerging market like India. Originality/value – The study extends the extant literature on value relevance studies in developed markets to an emerging market like India and enriches it in several ways.
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Padhi, Shradha, and Sumita Mishra. "Effect of Honesty as an Ethical Value on Software Project Performance: A Grounded Theory Approach." Journal of Human Values 23, no. 2 (April 11, 2017): 92–105. http://dx.doi.org/10.1177/0971685816689737.
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For successful project outcomes to organizations and clients alike, project managers (PMs) need to make ethical decisions and yet balance the interests of all stakeholders involved. Hence, honest communication among project stakeholders is essential as a countermeasure to this paradox. Honesty is one of the core ethical values propagated by the Project Management Institute (PMI), USA. Our study aimed to gain an endogenous perspective on honesty vis-à-vis its reification by PMI in its effect on software project performance. Empirical data were collected through in-depth interviews from 83 Indian PMs in one of the prominent Indian software consulting organizations. Grounded theory was utilized to analyze the data obtained. Our results validate the importance of honesty on software project performance, the need for trust among stakeholders in maintaining honesty, importance of Indian culture in understanding honesty and ensuing ethical challenges faced by PMs. Our results bear implications to extant research on honesty in projects with specific reference to the Indian software context. They are important for PMI professionals as they provide a culture-specific perspective to honesty and the scope for ideation on how to inculcate and sustain honesty in project management in India.
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Joshipura, Mayank, and Nehal Joshipura. "The Volatility Effect: Evidence from India." Applied Finance Letters 5, no. 1 (June 30, 2016): 12. http://dx.doi.org/10.24135/afl.v5i1.32.
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We offer empirical evidence that stocks with low volatility earn higher risk-adjusted returns compared to high volatility stocks in the Indian stock market. The annualised excess returns for the low and high volatility decile portfolios amount to 11.40% and 1.30%, respectively, over the period January 2001 to June 2015. The difference of returns is statistically and economically significant for both low and high-risk stocks. Using risk measures of standard deviation and beta, the volatility effect remains after controlling for size, value and momentum. We uncover that the volatility effect is not statistically significant after controlling for beta effect. Our evidence for volatility effect is not dominated by small and illiquid stocks. Our results show that the low volatility portfolio outperforms benchmark portfolio not only in down market but also in up market conditions.
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Panicker, Resmi C., and Swapna K. K. Cherian. "Atal Pension Yojana: Effect of Inflation And Time Value of Money." Commerce & Business Researcher 14, no. 2 (December 31, 2021): 117–25. http://dx.doi.org/10.59640/cbr.v14i2.117-125.
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Economic Growth and Development of a nation is highly influenced by the financial well-being as well as improved standard of living of its citizens. To ensure a stable income for Indian Citizens after retirement, the Government of India has introduced Atal Pension Yojana in 2015-16 Budget. APY provides a defined guaranteed pension depending on the contributions made by the subscriber towards the scheme.APY could emerge as the mostpopular social security scheme under the NPS System. The present paperanalyzesthe amount of money an investor would receive from AtalPension Yojana after adjusting for the time value of money.The study also examines its benefits, contributions and the current trend among the public towards the scheme.The study uses secondary data. Our findings indicate that, as inflation will erode the value of pension amount over time, the pension under Atal Pension Yojana may be too small to cover the cost of living. The Government must index the subscriber contribution to inflation in order to prevent the pension fund of low-income consumers from depleting over time. If the design flaws of APY are addressed, even the most vulnerable will get benefited.
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Berger, Ron, and Ram Herstein. "The evolution of business ethics in India." International Journal of Social Economics 41, no. 11 (November 4, 2014): 1073–86. http://dx.doi.org/10.1108/ijse-05-2013-0129.
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Purpose – Religion and culture can influence ethical behavior in business. It is suggested that there has been and continues to be, a deep interrelationship between religion, business ethics, and economic activity in India. As India is becoming a major global economic business partner, understanding its unique ethical business infrastructure is gaining in importance. The purpose of this paper is to intend to further the understanding of Indian (“Vendantic”) business ethics, as opposed to Greco – Roman business ethics, as the foundation of business culture in India. This paper further elaborates on the evolution of business ethics and its implications on doing business in and with Indian companies. Design/methodology/approach – The authors undertook a conceptual approach in order to understand the evolutionary process of Indian business ethics in a holistic view in order to understand better its workings and effect on business interaction. Findings – The paper explains the constructs of business ethics in India and shows its evolution over time. Originality/value – This original theoretical paper examines the evolution of Indian business ethics over time in line with environmental changes in the Indian business landscape.
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Pandey, Krishna Dayal, and Tarak Nath Sahu. "Concentrated Promoters’ Ownership and Firm Value: Re-examining the Monitoring and Expropriation Hypothesis." Paradigm 23, no. 1 (May 6, 2019): 70–82. http://dx.doi.org/10.1177/0971890719844422.
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The study attempts to provide some fresh evidences, on the way in which ownership concentration by promoters influences firm value by re-examining two popularly known hypotheses, namely, monitoring and expropriation attached with the concept of ownership concentration. It uses a set of strongly balanced panel data consisting 91 manufacturing firms listed on Bombay Stock Exchange of India from 2009 to 2016 and employs fixed effect regression model under panel data analysis. The study documents a positive effect of concentrated promoters’ ownership on the value of Indian manufacturing firms and endorses the monitoring role played by large owners. It also accepts the possibility of co-existence of both monitoring and expropriation effects, with the former having a dominating influence, as the overall impact of large promoters is a trade-off between the benefits of active monitoring and cost of expropriation. The study is expected to have important implications in strategy making in the domain of corporate finance and governance and to act as a piece of reliable empirical evidence for the academicians and business analysts of this domain.
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Sharma, Naman, and V. K. Singh. "Effect of workplace incivility on job satisfaction and turnover intentions in India." South Asian Journal of Global Business Research 5, no. 2 (June 16, 2016): 234–49. http://dx.doi.org/10.1108/sajgbr-02-2015-0020.
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Purpose – The purpose of this paper is to examine the effects of workplace incivility on job satisfaction and employees’ turnover intentions in Indian work settings. Design/methodology/approach – Data were collected randomly from 283 employees at various restaurants in the Northern and Western parts of India via the survey method and, thereafter, hierarchical regression analysis was performed to analyze the data. Findings – The study established that moderate to high levels of workplace-incivility-related issues are present in India’s restaurant industry. Regression analysis further revealed that workplace incivility is negatively related to job satisfaction and positively related to employee turnover in the Indian context as well. Practical implications – Relevant recommendations are presented to restaurant owners as well as HR practitioners that could curb unethical practices in Indian restaurants and promote civil behavior in the workplace. Originality/value – Relevant extant studies have recognized that there is a need to study workplace incivility in different cultures to establish the global relevance of the subject. This research studied the impact of workplace incivility on job satisfaction and turnover intentions with respect to Indian employees.
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Mohanty, Itismita, and ANU RAMMOHAN. "Child schooling in India: the role of gender." Indian Growth and Development Review 8, no. 1 (April 13, 2015): 93–108. http://dx.doi.org/10.1108/igdr-03-2014-0008.
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Purpose – This paper aims to analyse factors that influence child schooling outcomes in India, specifically the role of gender. Design/methodology/approach – This paper uses data from the nationally representative Indian National Family Health Surveys 1995-1996 and 2005-2006 and estimates Heckman sample selection, cluster fixed-effects and household fixed-effects econometric models. The dependent variables are the child’s enrolment status and conditional on enrolment child’s years of schooling. Findings – This analysis finds statistically significant evidence of male advantage both in schooling enrolment as well as years of schooling. However, using a cluster fixed-effects model, our analysis finds that within a village, conditional on being enrolled, girls spend more years in school relative to boys. Other results show that parental schooling has a positive and statistically significant impact on child schooling. There is statistically significant wealth effect, community effect and regional disparities between states in India. Originality/value – The large sample size and the range of questions available in this data set, allows us to explore the influence of individual, household and village level social, economic and cultural factors on child schooling. The role of gender on child schooling within a village, intrahousehold resource allocation for schooling and regional gender differences in schooling are important issues in India, where education outcomes remain poor for large segments of the population.
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M., Thenmozhi, and Aghila Sasidharan. "Does board independence enhance firm value of state-owned enterprises? Evidence from India and China." European Business Review 32, no. 5 (May 14, 2020): 785–800. http://dx.doi.org/10.1108/ebr-09-2019-0224.
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Purpose This study aims to examine the effectiveness of governance in state-owned enterprises (SOEs) and explores if board independence enhances the firm value of SOEs in India and China. The study further explores the moderation impact of promoter ownership in enhancing firm value. Design/methodology/approach The study is confined to government-owned enterprises in India and China and is based on a sample of 53 central government-owned firms listed in National Stock Exchange of India and 110 state-owned firms listed in Shanghai Stock Exchange of China for the period 2010–2017. A fixed-effect panel regression analysis has been used to examine the effect of board independence on firm value. Findings The study found that board independence adds value to the SOEs in India and China and the presence of independent directors (IDs) in the board of SOEs act as better monitors of performance to protect the interest of minority shareholders. Probably, they minimize agency conflict and provide resources to the firm and management. The greater the government shareholdings, the board independence further enhances value of SOEs in India and China. Practical implications Compliance with guidelines on IDs in SOEs serves as an effective corporate governance mechanism and the presence of IDs can signal better firm performance. The government promoters align with the IDs in better monitoring of SOE performance. Originality/value The study is unique and contributes to the literature by examining the impact of board independence on firm value in the context of SOEs in India and China and also provides insight on the effect of promoter ownership on the effectiveness on board independence.
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Jaikumar, Saravana, and Arvind Sahay. "Celebrity endorsements and branding strategies: event study from India." Journal of Product & Brand Management 24, no. 6 (September 21, 2015): 633–45. http://dx.doi.org/10.1108/jpbm-06-2014-0640.
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Purpose – The purpose of this study is to evaluate the economic value of celebrity endorsements to Indian firms based on their branding strategy – corporate or house-of-brands – and their “congruence” or “fit” with the celebrity. The overall economic value of endorsements to firms in India, a moderately collectivist culture, is also assessed. Design/methodology/approach – Standard “event study” methodology is used to evaluate the economic value of endorsements under different branding strategies (47 endorsement announcements – 25 corporate brands and 22 house-of-brands). The impact of the level of congruence (assessed using brand personality scales) on abnormal returns is also examined. Findings – Event study results indicate significant positive abnormal returns for corporate brands and insignificant returns to house-of-brands. Moreover, the level of congruence is found to have an insignificant effect on endorsement announcement returns. Overall, celebrity endorsements result in positive economic value to Indian firms. Originality/value – This study evaluates the differences in the effectiveness of celebrity endorsements (which might form a significant part of advertising costs) to firms following different branding strategies. Findings from this study indicate that celebrity endorsement announcements from house-of-brands do not lead to any significant stock market returns (in terms of market value). Further, contrary to current literature, the results indicate that the congruence between brand and celebrity has no impact on returns to endorsements in India, warranting further examination of whether congruence or likeability is important in endorsements.
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Sankaran, Raja, and Shibashish Chakraborty. "Factors Impacting Mobile Banking in India: Empirical Approach Extending UTAUT2 with Perceived Value and Trust." IIM Kozhikode Society & Management Review 11, no. 1 (January 2022): 7–24. http://dx.doi.org/10.1177/2277975220975219.
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The aim of this research is to study the factors impacting usage of mobile banking (mBanking) by consumers in India. The study adopts the Extended Unified Theory of Acceptance and Use of Technology (UTAUT2) with Social Value (SV), Monetary Value (MV), Emotional Value (EV), Quality Value (QV), Trust and the moderation effect of gender. Online and offline survey methods were used to collect primary data from 457 Indian consumers using mBanking. SPSS AMOS was utilized to empirically validate the conceptual model, test research hypothesis and moderation effect. The factors effort expectancy (EE), monetary value (MV), emotional value (EV), quality value (QV) and trust (TR) were found to be significant on behavioural intent (BI), whereas performance expectancy (PE) and social value (SV) were not found to be significant. Banking organizations can formulate strategies to attract new consumers and continue to engage in retaining consumers in using these influencing factors to adopt mBanking and other related mobile financial services (MFS). The study integrates perceived value components and trust with UTAUT2 to form a comprehensive model for examining mBanking adoption.
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Jain, Sheetal. "Exploring relationship between value perception and luxury purchase intention." Journal of Fashion Marketing and Management: An International Journal 23, no. 4 (September 19, 2019): 414–39. http://dx.doi.org/10.1108/jfmm-10-2018-0133.
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Purpose Although India is home to the world’s largest millennial population, so far, hardly any studies exist that explain the key drivers leading to the luxury goods consumption among this generational cohort. Therefore, the purpose of this paper is twofold: first, to develop and empirically test the conceptual framework designed to measure the relationship between luxury value perceptions and purchase intentions among the young Indian luxury consumers, and, second, to examine the moderating effect of gender in the relationship between luxury value perceptions and purchase intentions. Design/methodology/approach A purposive sampling technique was employed to collect the data from young luxury fashion consumers. Statistical tests including confirmatory factor analysis, multi-group analysis and structural equation modeling were applied for data analysis. Findings The findings show that the conspicuous value is the most significant determinant of luxury purchase intention followed by the experiential value, susceptibility to normative influence and utilitarian value. The uniqueness value was found to have weak relationship with purchase intention. Furthermore, results revealed that the relationship between the luxury values and the luxury buying intentions does not vary significantly between male and female. Originality/value This is one of the first studies that provides meaningful insights to the academicians and marketing practitioners about why millennials buy luxury fashion brands in emerging markets like India.
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Rawat, Preeti S., and Shiji Lyndon. "Effect of paternalistic leadership style on subordinate’s trust: an Indian study." Journal of Indian Business Research 8, no. 4 (November 21, 2016): 264–77. http://dx.doi.org/10.1108/jibr-05-2016-0045.
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Purpose The purpose of this paper is to study the effect of paternalistic leadership of the boss on the trust of the subordinate. Design/methodology/approach The present study adopted survey method to test the hypotheses. Paternalistic leadership style was measured by a 24-item scale developed by Cheng et al. (2004). Trust was measured by a four-item scale by Schoorman and Ballinger (2006). Data were collected from a sample of 253 respondents. Findings The results show that in India, paternalistic leadership style leads to subordinate trust. The result further found that though benevolent and moral leadership leads to trust, authoritarian leadership does not lead to formation of trust. Practical implications The study has important implications in areas like managing leader–member relations, leadership training and team efficacy. Originality/value Leadership researchers in Indian context have largely adopted etic approach which attempts to generalize Western leadership theory to Indian context. However, uncritical adaptation of techniques developed in Western context may not be effective in the Indian cultural environment. The concept of paternalistic leadership was developed in Chinese context, but as India scores high on paternalism, the present study uses the paternalistic leadership style to study its effect on subordinate’s trust on leader.
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Birt, Jacqueline, Mahesh Joshi, and Michael Kend. "Segment reporting in a developing economy: the Indian banking sector." Asian Review of Accounting 25, no. 1 (February 6, 2017): 127–47. http://dx.doi.org/10.1108/ara-06-2015-0064.
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Purpose The purpose of this paper is to investigate the value relevance of segment information for both public and private sector banks in India. In doing so, this paper examines a rapidly developing economy and perhaps its most critical sector during this period of strong economic growth. Design/methodology/approach In this study uses the simplified Ohlson model, for a sample of 136 private sector and public sector banks for the period 2007-2010 in India. Findings The paper finds that public sector banks have higher share prices, higher earnings and more equity compared with private sector banks. Segment earnings data is highly value relevant for both sectors; however, segment equity data is only marginally value relevant for Indian banks. The number of segments is also value relevant and associated with higher share prices. Originality/value The results of this study contribute additional evidence to the literature on segment reporting by studying the effect of adoption of segment reporting in an emerging market. Findings from the paper are particularly relevant as India is currently in the process of changing its segment reporting requirements and moving to an IFRS-based segment standard.
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Jadiyappa, Nemiraja, Bhanu Sireesha, L. Emily Hickman, and Pavana Jyothi. "Multiple banking relationships, agency costs and firm value: evidence from India." Managerial Finance 46, no. 1 (October 11, 2019): 1–18. http://dx.doi.org/10.1108/mf-12-2018-0619.
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Purpose Prior literature demonstrates that the effectiveness of bank monitoring decreases when multiple banks are involved, due to a free rider problem, leading to lower firm value. The purpose of this paper is to investigate whether this free rider problem exists in an emerging market context, and whether the relationship between multiple banking relationships and firm value is conditioned on bankers’ incentives to monitor. Design/methodology/approach The authors use multivariate panel regression to examine the hypotheses. The conditioning effect of the incentive to govern (the amount of average bank lending) is modeled using an interaction variable. Based on the result of the Hausman test, the authors employ two-way fixed effects estimator to estimate the coefficients. Findings First, the negative relationship between multiple banking relationships and firm value holds true among Indian firms. Second, the authors show that this negative relationship is lessened for firms with high average bank debt or higher free cash flows. The analyses suggest that these moderating effects are related to a reduction in the free rider problem rather than a decrease in financial constraints. However, these results are only significant among larger firms. Originality/value Prior literature has not considered the conditioning impact of the “incentives to govern” when examining the free rider problem, inherent in situations where multiple actors are involved. The authors show in this study that the free rider problem disappears when the incentives to govern are considered in the overall research framework.
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Mishra, Rakesh, and Sheeba Kapil. "Effect of ownership structure and board structure on firm value: evidence from India." Corporate Governance: The International Journal of Business in Society 17, no. 4 (August 7, 2017): 700–726. http://dx.doi.org/10.1108/cg-03-2016-0059.
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Purpose This paper aims to explore the relationship of promoter ownership and board structure with firm performance for Indian companies. Design/methodology/approach Corporate governance structures of 391 Indian companies out of CRISIL NSE Index (CNX) 500 companies listed on national stock exchange (NSE) have been studied for their impact on performance of companies. Panel data regression methodology has been used on data for five financial years from 2010 to 2014 for the selected companies. Performance measures considered are market-based measure (Tobin’s Q) and accounting-based measure (return on assets [ROA]). Findings The empirical findings indicate that market-based measure (Tobin’s Q) is more impacted by corporate governance than accounting-based measure. There is significant positive association between promoter ownership and firm performance. It is also indicated that the relationship between promoter ownership and firm performance is different at different levels of promoter ownership. Board size is found to be positively related to ROA; however, board independence is not found to be related to any of the performance measures. Research limitations/implications Limitations of the study are in terms of data methodology and possible omission of some variables. It is felt that endogeneity and reverse causality might be better addressed using simultaneous equation methodology. Originality/value The paper adds to the emerging body of literature on corporate governance performance relationship in Indian context using a reasonably wider and newer data set.
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Punyatoya, Plavini. "Effect of perceived brand environment-friendliness on Indian consumer attitude and purchase intention." Marketing Intelligence & Planning 33, no. 3 (May 5, 2015): 258–75. http://dx.doi.org/10.1108/mip-04-2013-0069.
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Purpose – The purpose of this paper is to examine the effect of perceived brand environment-friendliness (PBE) on brand trust and perceived brand value and the subsequent effect on consumer’s environment friendly (EF) brand attitude and EF brand purchase intention. The research also proposes a novel construct PBE. Design/methodology/approach – The current research involves a pretest to select a perceived EF brand. Then a survey is conducted among 223 Indian consumers. Structural equation modelling is used to analyse the data and to test the proposed integrated model. Findings – The results show that PBE is positively associated with brand trust and perceived brand value. High trust in the EF brand and high consumer perceived brand value lead to favourable attitude towards the brand. Consumers with positive EF brand attitude have significantly higher intention to purchase the brand. Practical implications – The paper provides interesting insights about Indian consumers’ evaluation of EF brands. These useful insights would enable both international and national marketers to develop more focused strategies catering to the Indian consumers. Originality/value – The paper empirically demonstrates that, when Indian consumers perceive a brand as EF, it leads to favourable attitude towards the brand and significantly positive purchase intention. There has been a little research focused on India in this field. So, the current paper offers vital guidelines to international marketers, who are planning to introduce their EF brands to Indian market.
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Mohanty, Pitabas. "Evidence of Size Effect on Stock Returns in India." Vikalpa: The Journal for Decision Makers 27, no. 3 (July 2002): 27–38. http://dx.doi.org/10.1177/0256090920020304.
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This paper reports the results of a study designed to examine if any firm-specific characteristics explain the cross-sectional variation in stock returns using Fama and Macbeth's methodology. It was found that size (measured by market capitalization), market leverage, price-to-book value, and earnings-to-price ratio were highly correlated with stock returns. While size and price-to-book-value were negatively correlated with stock returns, earningsto- price ratio and market leverage were found to be positively correlated with stock returns. The study also found a flat relationship between returns and beta. However, variables other than size did not have any incremental explanatory power, once the size effect had been adjusted for. On splitting the sample period into pre-95 and post-95 sub-periods, it was found that the above effects were predominant in the post-95 sub-period compared to the pre-1995 one. In the entire sample period, small firms generated an annualized excess return of 70 per cent over the large firms.
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P., Fahad, and Showkat Ahmad Busru. "CSR disclosure and firm performance: evidence from an emerging market." Corporate Governance: The International Journal of Business in Society 21, no. 4 (January 25, 2021): 553–68. http://dx.doi.org/10.1108/cg-05-2020-0201.
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Purpose This study aims to investigate the effect of corporate social responsibility (CSR) disclosure on firm performance, considering both firm profitability and firm value in an emerging market, India. Design/methodology/approach The study examines the effect of CSR disclosure on firm performance using panel regressions for the final sample that consists of 386 companies listed in the BSE 500 index, India. It covers all major players in the capital market for ten years from 2007–2016. Findings The result shows a trend toward the negative effect of CSR disclosure on firm profitability and firm value in India; this negative effect is mainly influenced by environmental disclosure score and social disclosure score. An adverse effect of firm profitability and firm value on CSR disclosure is also observed to underline the inverse relationship. Practical implications The study provides implications to consumers, investors, managers and policymakers. Firstly, consumers have to be more aware of CSR initiatives of companies, and they should support those companies to do more. Secondly, investors can use the ESG disclosure score as a signal for the level of CSR activities, which negatively affects firm performance. Thirdly, managers have to consider CSR more seriously and spend CSR amount wisely after proper research and not just to meet the mandatory limit. In addition, managers have to take necessary actions to make the public aware of the CSR activities of the company to gain an advantage in the future. Finally, policymakers have to give more emphasis on the promotion of CSR activities to reach the ultimate consumers who lie in the remote areas of the country, and more awareness has to be given to them regarding CSR activities. Originality/value The findings contribute to the literature by providing insights on CSR disclosure and firm performance relationship in India, an emerging market with increasing international attention where such studies are scant and less clear, especially after the amendments in the Companies Act, 2013. Furthermore, the measurement of CSR disclosure using environmental, social and governance (ESG) score is novel in the Indian context.
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Tripathi, Smita, Guru Prakash Prabhakar, and Joyce Liddle. "Leadership insights from the top: exploring leadership through the narratives of CEOs in India." International Journal of Public Leadership 11, no. 3/4 (August 10, 2015): 126–46. http://dx.doi.org/10.1108/ijpl-02-2015-0006.
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Purpose – The purpose of this paper is to highlight the corporate and non-corporate leadership practices in India, the effect of culture on such practices and how these drive management philosophies. Design/methodology/approach – Semi-structured interviews were conducted with CEOs from India. A key finding was that Indian leadership shares some aspects of global leadership traits, but factors such as culture and religion are significant influences on their leadership style and philosophy. Findings – The findings are helpful to both practitioners and policy makers seeking to understand the leadership style of Indian CEOs. Originality/value – Many qualities of a good leader, as defined by Indian CEOs were derived from the Hindu mythology (Bhagvad Gita, Mahabharata, Ramayana and the four Vedas).
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Ntoung Agbor Tabot, Lious, Outman Ben Chettah, and Eva Masárova. "Agency cost of type I and accounting numbers in Australia and India." Corporate Ownership and Control 13, no. 4 (2016): 307–16. http://dx.doi.org/10.22495/cocv13i4c2p4.
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This paper has as objective to assess the agency cost of type I on the value relevance of accounting numbers (earnings and book value) for all listed firms in the manufacturing, retailing and service industries in Australia and India from 2005 to 2012 using the modified version of the Ohlson’ model in Faud and Mohd, (2008) where price is express as a linear function of earnings, book value and various accounting numbers. As predicted, the results show that both earnings and book value are value relevance for the manufacturing, retailing and servicing industry in Australia and India. The presence of the free cash flow agency problem caused the value relevance of earnings and book value to decline in Australia and India. However, the effect is not stable across the difference industries. The results show that in the manufacturing industry, the effect caused by the free cash flow agency problem is relatively higher for Australia and India than in the retail and service industries. As a result, the firms in the manufacturing with free cash flow agency problem have lower earnings (book value) coefficients than those without free cash flow agency problem
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V.M., Jasmine. "GST & Evolution of Tax System in India." IRA-International Journal of Management & Social Sciences (ISSN 2455-2267) 7, no. 1 (May 3, 2017): 65. http://dx.doi.org/10.21013/jmss.v7.n1.p8.
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<em>Goods and Service Tax (GST) is a new tax-reform that India going to experience from July 1st 2017. GST is a comprehensive tax collection system which will subsume many direct as well as indirect taxes. Currently we have Value Added Tax system for collecting indirect tax by the states. It has been introduced as indirect value added tax into Indian Taxation system from 01st April 2005. Approximately 193 countries in the world employed VAT. In order to give uniformity in tax collection and to avoid cascading effect of tax GST has been studied and going implement throughout the country. In this context this paper is an attempt to understand historical development, structure of Indian Taxation system, working, features, Impacts of GST in a simple manner .This paper concludes with some suggestions which will be helpful for smooth implementation of GST.</em>
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Gupta, Pradeep Kumar, Shailendra Kumar, and Piyush Verma. "Association between Degree of Leverages and Firm Value." Asian Journal of Finance & Accounting 8, no. 1 (May 23, 2016): 212. http://dx.doi.org/10.5296/ajfa.v8i1.9455.
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<p>This study aims to empirically investigate the association between degree of leverages, operating and financial, and firm value in the context of India, one of big ten emerging markets (Garten, 1997). This study examines this association for 231 manufacturing firms listed in National Stock Exchange (NSE) in India over a period from 2001-2002 to 2010-2011. The independent variables, degrees of operating and financial leverage, and a market price-based dependent variable, called price-earnings ratio as a proxy of firm value, are taken to examine this relationship by using standard ordinary least square regression models at the levels of individual firm and portfolio of firms. The findings of this study show a statistically significant negative relationship between firm value and degree of operating leverage and a statistically insignificant relationship between firm value and degree of financial leverage both at the levels of individual firm and portfolio of firms. Using the data from a country like India, one of fastest growing emerging markets in the world, this study provides an important insight on the effect of leverages on the firm value, the association between independent accounting variables and stock price-based dependent variable, to the practitioners, the scholars and the finance managers. </p>
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Khare, Arpita. "How cosmopolitan are Indian consumers?: a study on fashion clothing involvement." Journal of Fashion Marketing and Management 18, no. 4 (September 2, 2014): 431–51. http://dx.doi.org/10.1108/jfmm-05-2013-0066.
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Purpose – The purpose of this paper is to examine affect of cosmopolitanism and consumers’ susceptibility to interpersonal influence on Indian consumers’ fashion clothing involvement. Moderating effect of demographics was studied. Design/methodology/approach – Survey technique through self-administered questionnaire was used for data collection in both metropolitan and non-metropolitan cities in India. Findings – Utilitarian, value expressive factors of normative influence and cosmopolitanism influence Indian consumers’ fashion clothing involvement. Type of city, income, and education moderated influence of normative values and cosmopolitanism on fashion clothing involvement. Research limitations/implications – One of the major limitations of current research was that it had a large number of respondents in the age group of 18-40 years. Future research can attempt to reduce age biasness. Practical implications – The findings can prove helpful to international apparel brands marketing luxury and fashion clothing in India. However, since conformance to social norms was important for Indians, clothing manufacturers should use reference groups, opinion leaders, and celebrities to generate awareness. A blend of global and local lifestyle should be used. International luxury brands can customize their products to combine ethnic tastes. Originality/value – Fashion clothing market promises immense growth opportunities in India. There is limited research to examine influence cosmopolitanism on Indian consumers’ consumption behaviour. Knowledge about influence of global lifestyle, brands, mass media, and services on Indian consumers’ behaviour can help in targeting them effectively.
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KSHANDAKAR, SHASHANK, MED RAM VERMA, YASH PAL SINGH, SANJAY KUMAR, and AMRIT KUMAR PAUL. "Effect of clinical mastitis on lactation curves of Murrah buffaloes." Indian Journal of Animal Sciences 88, no. 5 (May 23, 2018): 585–92. http://dx.doi.org/10.56093/ijans.v88i5.79989.
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India accounts 18.5% of the world milk production and ranked first in milk production. Buffaloes (Bubalus bubalis) produce 54% of total milk production of India. However, mastitis remains the most expensive production disease of the buffaloes. The present study was based on the lactation records of Murrah buffaloes maintained at Cattle and Buffalo Breeding Farm of LPM Section, ICAR-Indian veterinary research institute, Izatnagar over a period of 10 years (2005–2014). The aim of present study was to find best fitted lactation model explaining the lactation behaviour of Murrah buffaloes in healthy and mastitis condition. The data consisted of 80068 daily test day milk yield records of 296 Murrah buffaloes. Different standard lactation curve models such as Ali and Schaeffer (1987), Cobby and Le Du (1978), Sikka (1950), Mitscherlich × Exponential (Rook et al. 1993), Mixed log (Guo and Swalve 1995), Wilmink (1987) and Wood (1967) models were fitted by Proc NLIN Procedure of SAS 9.3. The goodness of fit was judged by the high value of R2 adj and low value of MSPE, AIC and BIC. Durbin-Watson test was used to test autocorrelation and Shapiro-Wilk’s test and Kolmogorov Smirnov test was used to test the normality of the residuals. Based on the analysis of the data Ali and Schaeffer model was the best fitted model to explain the lactation behaviour of the healthy as well as mastitic Murrah buffaloes.
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Agrawal, D. K., A. K. Garg, and K. Nath. "The use of water-washed neem (Azadirachta indica) seed kernel cake in the feeding of buffalo calves." Journal of Agricultural Science 108, no. 2 (April 1987): 497–99. http://dx.doi.org/10.1017/s0021859600079545.
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A new protein supplement in the form of water-washed neem (Azadirachta indica) seed kernel cake for tropical countries such as India, Pakistan, Ceylon, Burma and also for tropical regions of Australia, Africa, the Middle East and South-East Asia which could be successfully fed to cattle has been reported by Nath, Rajgopal & Garg (1983). The adverse effect of the bitter or toxic principles contained in the neem seed kernel cake could be removed by water washing. It has a potential of providing Rs.350 million worth of additional feed in India alone and if all the neem seeds produced in India could be harvested and utilized for the preparation of oil, the production of the cake could reach 7–8 times its present value.
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Nayak Kini, Archana, and Savitha Basri. "Customer Empowerment and Engagement Behaviours Influencing Value for FinTech Customers: An Empirical Study from India." Organizations and Markets in Emerging Economies 14, no. 1(27) (May 29, 2023): 83–109. http://dx.doi.org/10.15388/omee.2023.14.83.
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The article aims to study the impact of consumer empowerment on customer engagement behaviours (CEBs) and their effect on customer value in the FinTech industry of India. A cross-sectional analytical study was carried out to collect data from 380 Indian FinTech app users using a survey questionnaire. The Partial Least Square Structural Equation Modelling (PLS-SEM) method was applied to test the conceptual model. This is one of the first research studies during the COVID-19 pandemic to show that customer-empowered behaviours predict positive CEBs such as reviews and testimonials, which then contribute to customer value. The indirect effects indicate that CEB mediates the relationship between customer empowerment and value. This study also operationalizes and validates customer engagement behaviour as a formative higher-order construct formed by four dimensions such as customers’ social media influence, form/modality, the scope and channel of engagement. To create customer value, FinTech practitioners and e-marketers should foster online communities and identify and manage customers’ need for control and empowerment for a particular service or product under study thus guiding them in designing customized marketing strategies. The study directs academicians and researchers to build engagement models that can enforce positive CEBs namely e-word of mouth, customer reviews and testimonials.
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Goel, Sandeep. "The big bath of demonetization in India: strike on black money for corporate governance." Journal of Money Laundering Control 21, no. 4 (October 1, 2018): 594–600. http://dx.doi.org/10.1108/jmlc-11-2017-0063.
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Purpose This paper aims to focus on the concept of abolition of black money and the demonetization movement started in India for cleaning black money and its impact on corporate world and Indian economy. It discusses the corporate governance effect of the demonetization scheme and various policy measures taken by the government to unearth and curb the black money in the country. It also states the challenges in its process of implementation and implications for future. Design/methodology/approach It appraises and reviews the concept of demonetization and its process in India since its implementation on November 8, 2016. Findings The biggest positive effects of this move were eradication of stocked and staked up money, cleansing of the financial system and improving governance in India. But its implementation had mix outcomes with its own challenges for future improvement. Practical implications The lessons drawn from the experience are expected to pave way for the countries at large. Originality/value It is an original paper on demonetization in India, and it is hoped that the lessons learnt thereof will pave the way for the world at large.
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Bhat, Ishfaq Hussain, and Sapna Singh. "Examining the moderating effect of shopping value on private-label and loyalty in Indian grocery stores." Management & Marketing 13, no. 1 (March 1, 2018): 748–60. http://dx.doi.org/10.2478/mmcks-2018-0003.
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Abstract The present study has attempted to create and examine a conceptually grounded working model that examines the moderating influence of utilitarian and hedonic shopping values with Indian grocery stores on the association between usage of Private Label (PL) and Store Loyalty (SL). For this, primary data was collected from 350 consumers, from different stores in India selling PL products. The theoretical model was analyzed using SEM. The findings of the study reflect that an inverse relationship between PL usage and SL. However, the presence of utilitarian shopping value reverses this into a positive linkage between PL usage and SL. This finding reflects some intriguing ramifications for retailers and corporate. For instance, evolving and aligning different marketing strategies help the retailers in creating the necessary USV so as to create shopping involvement that may help retailers to upgrade their SL in a favourable manner over the long term. Earlier research has not examined the involvement of PL items from the viewpoint of shopping value. Subsequently, this paper endeavours to examine the regulating effect of shopping value on the PL consumption and SL.
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Das, Sudipta, and Parama Barai. "Time-varying industry beta in Indian stock market and forecasting errors." International Journal of Emerging Markets 10, no. 3 (July 20, 2015): 521–34. http://dx.doi.org/10.1108/ijoem-02-2013-0035.
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Purpose – The purpose of this paper is to empirically estimate industry beta in Indian stock market with three alternative models and compare the accuracy of forecasting error to find the most suitable model for time-varying beta estimation. Design/methodology/approach – The paper applies the standard regression model, Kalman filter model, other statistical approaches and secondary material. Findings – The paper finds that the existence of dynamic beta in Indian market. The results also indicate systematic risk or beta of Indian industries is susceptible to the global economic effect. Finally, the Kalman filter generates the lower forecasting error compared to the other method for almost all the industries. Practical implications – The accurate estimation of beta which is a measure of systematic risk helps investors to make investment decision easier. The implication of this result is important for finance practitioners such as portfolio managers, investment advisors and security analysts. This study will help to determine the country risk with respect to the global index and analyze the global financial market integration effect on India. Originality/value – This paper reliably estimate industry portfolio beta for India. The time-varying beta is estimated using Kalman filter method which is rarely applied in Indian literature. This paper contributes by extending the knowledge of existing literature by introducing a new data set with Indian data which is not affected by the “data snooping” bias. This study will also help to determine the country risk with respect to the global index and analyze the global financial market integration effect on India.
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Islam, Tajamul, and Uma Chandrasekaran. "Effect of religiosity on ecologically conscious consumption behaviour." Journal of Islamic Marketing 7, no. 4 (November 14, 2016): 495–507. http://dx.doi.org/10.1108/jima-01-2015-0006.
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Purpose This study aims to explore whether religiosity influences ecologically conscious consumption behaviour (ECCB) among Muslim consumers in India. Design/methodology/approach A structured questionnaire was developed and administered to a sample of 191 young male Muslim respondents. One-way analysis of variance (ANOVA) and post hoc tests were used to test the proposed hypotheses. Findings The results indicated a significant positive correlation between religiosity and ECCB. Pro-religious and intrinsically religious consumers reported higher importance to ECCB than non-religious and extrinsically religious consumers. It is, therefore, concluded that religiosity plays an important role in determining ECCB among Muslim consumers in India. Research limitations/implications The study sample comprised Indian university students as respondents, whose consumption behaviours may be constrained by limited independent income. Further, only male students have been included because of methodological considerations. Practical implications This study suggests that green marketers can use religiosity as a possible segmentation variable to effectively position their products. Religious messages or symbols can be invoked in advertising and other communication campaigns by marketers to gain acceptance for green products and consumption behaviours among consumers. Originality/value Few studies have examined the role of religiosity and its impact on consumer behaviour. The present study sought to address this gap in literature and offers preliminary insights about how marketers can effectively use religious symbols for marketing green products to consumers. The study is an initial attempt to provide elementary understanding about the consumption behaviour of Indian Muslims who have been insufficiently investigated by marketing and consumer researchers.
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Song, Young Chul, and Han Young Lie. "Does heterogeneity matter to the direct effect of FDI on firm performance?" International Journal of Emerging Markets 13, no. 6 (November 29, 2018): 1876–906. http://dx.doi.org/10.1108/ijoem-12-2017-0564.
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Purpose The purpose of this paper is to estimate the direct effects of foreign direct investment (FDI) on domestic target firms’ profitability gains, in India, post-acquisition. In particular, it focuses on identifying the importance of firms’ heterogeneities on the effects, taking into account the source of FDI, the intensity of firm interaction, and the target firms’ technology-absorptive capacity. Most importantly, the paper investigates whether the estimates depend on a combined rather than single impact of these heterogeneities. Design/methodology/approach To control for the possibility of selection bias and endogeneity, this empirical analysis uses a methodology that combines propensity score matching and difference-in-differences (PSM–DID) in adopting a comprehensive data set of both foreign- and Indian-acquired firms that were purchased through mergers and acquisitions in India between 1991 and 2013. Findings The analysis reveals four major findings. First, overall, the post-foreign acquisition target firms’ performance gains were positive and varied by the heterogeneous technology transfer capacity of the foreign investor. Second, it is possible that target firms located in industrial clusters with more foreign agglomeration experienced larger profitability gains through more dynamic firm interactions in terms of spillovers. Third, Indian targets with higher technology-absorptive capacity benefitted in higher profitability gains from acquiring and assimilating the superior technology that is transferred from foreign investors. Finally, an optimal combination of Indian target firms with higher technology-absorptive capacity and foreign investors with higher technology transfer capacity maximizes profitability gains, post-acquisition. This synergy effect is particularly prominent in clusters where more foreign firms agglomerate. Originality/value This study captures the true direct effect of FDI by adjusting the combined causal effects of various inherent heterogeneities in the target firms’ performance, thus correcting any possible bias, which few previous studies have addressed.
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Petchimuthu, Priya, Ramya Petchimuthu, Athmarishi Ayyappan, Vijaya Mariappan, Revathy Palanipandi, and Baladevi Ramaiah. "A Review on Lab Scale Cultivation of Calocybe Indica and Its Medicinal Value." International Journal of Nutrition 6, no. 3 (December 9, 2020): 1–4. http://dx.doi.org/10.14302/issn.2379-7835.ijn-20-3406.
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Calocybe indica, a tropical edible mushroom and it is popular because it has good nutritive value and it can be cultivated commercially on a large scale. Mushrooms are in the great demand everywhere and hold a unique place in the world today due to their typical taste and rich in protein, vitamins, minerals. Other than nutritional value, it is also playing a major role in medicinal field. Milky mushroom is known to have anti-oxidant and anti-cancer effect. Paddy in particular used as a substrate in Milky mushroom considered as inexpensive and it is a popular variety among people because of its distinct flavor, higher protein content and shorter cropping duration compared to other cultivated mushrooms. The present study designed to explain how the mushroom was cultivated using paddy straw in India.
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Grover, Naina, and Pankaj Sinha. "Determinants, persistence and value implications of liquidity creation: an evidence from Indian banks." Journal of Asia Business Studies 15, no. 2 (February 19, 2021): 384–400. http://dx.doi.org/10.1108/jabs-06-2019-0192.
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Purpose The purpose of this paper is to explore the micro and macro factors affecting liquidity creation by scheduled commercial banks (excluding Regional Rural Bank) in India from 2005 to 2018. Design/methodology/approach Two measures of liquidity creation, the broad and narrow measures, are constructed using RBI data available on Indian banks. System generalized method of moments has been applied to explore the factors affecting liquidity creation. Findings This study finds high level of persistence in liquidity creation in banks. Variation in the broad measure is explained by equity ratio, market share, GDP, gross savings and lending rate, whereas the narrow measure is explained by equity ratio, market share, size and lending rate. The Global Financial Crisis had a negative effect on liquidity creation as per both the measures, and the impact was more severe for the broad measure as compared to the narrow measure. Research limitations/implications This study finds a positive correlation between bank value and liquidity creation which suggests that the investors favourably evaluate banks that create more liquidity. This study is confined to India only. Practical implications There is a negative influence of capital on liquidity created by banks, which implies a trade-off that exists between financial stability and liquidity creation. Basel III norms impose higher capital and liquidity standards which will have negative implications for liquidity creation. Originality/value To the best of authors’ knowledge, this is the first study in the Indian context that focusses on factors affecting liquidity creation in a dynamic framework and determines the relationship between liquidity creation and market value of a bank.
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Sivasubramanian, N. "Effect of outdoor games among school children in Northern Gujarat, India." Bioinformation 18, no. 9 (September 30, 2022): 791–94. http://dx.doi.org/10.6026/97320630018791.
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Outdoor play works as an important tool for the children education. Providing a natural learning environment for children helps them to have an active and fulfilling life. Also, higher levels of attention and well-being are promoted when children play in green outdoor spaces. The importance of play for children's healthy development is grounded in a strong body of research. The study used an experimental research methodology, and data was obtained from 60 school-aged children using a purposive sample strategy and a checklist. The mean, standard deviation, and chi square test were used to analyze the data. After giving act out method, majority (85%) of the school age children had adequate knowledge, 15% of the school children had moderate knowledge regarding outdoor games and its importance. In data analysis the mean of pretest score was6.43 and mean of post test score was 15.88. The mean difference was 9.45. Post test mean was more than pretest mean, which indicate the effectiveness of actout method on deficiency of outdoor game among school children. The standard deviation of pretest knowledge score was 3.9; the post test knowledge score was 2.47. The computed’t’ value was 16.1, the DF was 59, and the P value was 1.67, all of which are significant. Religion, monthly income, and the age of the children all had an impact on the calculated chi square value. According to the findings of this study, the act out method was successful in boosting understanding about the lack of outdoor games among school-aged children.
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Sharma, Chandan, and Debdatta Pal. "Exchange Rate Volatility and Tourism Demand in India: Unraveling the Asymmetric Relationship." Journal of Travel Research 59, no. 7 (October 24, 2019): 1282–97. http://dx.doi.org/10.1177/0047287519878516.
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This study explores the asymmetric effect of exchange rate volatility on tourism demand in India from January 2006 to April 2018. Tourism demand is captured from a twin perspective—quantity and value. While quantity is represented by foreign tourist arrival in India, earnings from foreign tourists are used to represent value. The study is unique from a methodological point of view as it makes the first ever application of the nonlinear autoregressive distributed lag model of Shin, Yu, and Greenwood-Nimmo (2014), in the tourism demand literature to capture nonlinearity simultaneously in the short- as well as long-run. Results of our analysis show that tourism demand in India responds asymmetrically to both nominal and real exchange rate volatility. Also, the long-run effects of exchange rate uncertainty are shown to be more damaging than the short-run effects. Our findings are fairly robust to alternative specifications.
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Et.al, Dr Pankaj Talreja. "Assessing Impact of Liberalization on Financial Performance Sustainability of Indian Pharmaceutical Industry using Structure Conduct Performance Model." Turkish Journal of Computer and Mathematics Education (TURCOMAT) 12, no. 3 (April 10, 2021): 3085–91. http://dx.doi.org/10.17762/turcomat.v12i3.1530.
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The Indian Pharmaceutical Industry is ranked third largest by volume and fourteenth by value. It thus accounts for 10% of world’s production by volume and 1.5% by value according to Department of Pharmaceuticals, Government of India. Recognizing the immense potential for growth of Indian pharmaceutical industry and its direct impact on Indian economy the present paper tries to analyze the market structure of the Indian pharmaceutical firms and assess how the sustainable profitability of firms is affected using structure conduct performance model. The study founds out the sustainable profitability is statistically related to firm size, export and import, raw material expenses, power use and wage intensity but there seems to be insignificant effect of market share and mergers and acquisition on firm’s performance in terms of sustainable profitability.
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Mehta, Atul, and Joysankar Bhattacharya. "Channels of financial sector development and the inequality widening (narrowing) hypothesis – evidence from India." Journal of Financial Economic Policy 12, no. 4 (January 2, 2020): 593–608. http://dx.doi.org/10.1108/jfep-03-2019-0049.
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Purpose The study aims to understand how various channels of financial sector development affect the income inequality across Indian states and whether the inequality widening or narrowing hypothesis of financial development may be confirmed at a sub-national level. Design/methodology/approach Using state-wise annual data for the period from 1999-2000 to 2011-2012, a panel data analysis using generalised method of moments (GMM) estimator is conducted for a sample of 15 major Indian states. Findings The results confirm the inequality widening hypothesis of financial sector development in India. While each channel affects different section of the population in a different way, their overall effect on the income inequality remains unfavourable. Originality/value This paper is the first ever study to provide a comparative empirical evidence for the effect of each channel of financial development on the income inequality in India. The results provide significant insights to the policymakers, practitioners and academia in the financial sector with respect to the efficiency of each channel of financial development in bridging the gap between the poor and rich.
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Iqbal, Mohammed, and Shijin Santhakumar. "Information asymmetry and insider trade profitability in India." Journal of Indian Business Research 10, no. 1 (March 19, 2018): 53–69. http://dx.doi.org/10.1108/jibr-05-2017-0059.
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Purpose This study aims to measure the magnitude of information asymmetry between insiders and outsiders in Indian equity market. The study also investigates the effect of major information sources that affect information asymmetry namely, the informativeness of financial statements, news reports about the company and analyst follow-up. Design/methodology/approach Six-month profitability of insider trade was used as the proxy to measure information asymmetry. Fama-MacBeth two-stage regression was used to analyse the effect of information sources upon information asymmetry. Findings The results of the analysis demonstrate that in comparison with findings of similar studies the level of information asymmetry is comparatively high in India. On an average, profitable insider traders in India earn 19.28 per cent return than outside investors. Purchase transactions are more profitable than sales transactions, while the size of company and information asymmetry is associated inversely. Further, news and analyst follow-up are inversely associated with information asymmetry whereas informativeness of financial statements has little effect on information asymmetry. Practical implications The study have important insights for corporates in insider information management and legal compliance of insiders’ market activities. Results pointing to the requirements of a deeper Regulatory monitoring and stringent legal framework. Social implications The result validates the concerns of investor protection against informed trade. Originality/value The measurement of information asymmetry using profitability of insider trade is novel in Indian context even though the methodology is often used in the literature.
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Gogoi, M. M., P. K. Bhuyan, and K. Krishna Moorthy. "Estimation of the effect of long-range transport on seasonal variation of aerosols over northeastern India." Annales Geophysicae 26, no. 6 (June 11, 2008): 1365–77. http://dx.doi.org/10.5194/angeo-26-1365-2008.
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Abstract. Spectral aerosol optical depth (AOD) at ten discrete channels in the visible and near IR regions were estimated over Dibrugarh, located in the northeastern part of India, using a ground-based multi-wavelength solar radiometer (MWR) from October 2001 to February 2006. The observations reveal seasonal variations with low values of AODs in retreating monsoon and high values in the pre-monsoon season. Generally the AODs are high at shorter wavelengths and low at longer wavelengths. AOD spectra are relatively steep in winter compared to that in the monsoon period. The average value of AOD lies between 0.44±0.07 and 0.56±0.07 at 500 nm during the pre-monsoon season and between 0.19±0.02 and 0.22±0.02 during re-treating monsoon at the same wavelength. Comparison of MWR observation on Dibrugarh with satellite (MODIS) observation indicates a good correspondence between ground-based and satellite derived AODs. The synoptic wind pattern obtained from National Centre for Medium Range Weather Forecasting (NCMRWF), India and back trajectory analysis using the NOAA Hybrid Single-Particle Lagrangian Integrated Trajectory (HYSPLIT4) Model indicates that maximum contribution to aerosol extinction could be due to transport of pollutants from the industrialized and urban regions of India and large amounts of desert and mineral aerosols from the west Asian and Indian desert. Equal contributions from Bay-of-Bengal (BoB), in addition to that from the Indian landmass and west Asian desert leads to a further increase of AOD over the region of interest in the pre-monsoon seasons.
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Rani, Nitya, and Anand Samuel. "A study on generational differences in work values and person-organization fit and its effect on turnover intention of Generation Y in India." Management Research Review 39, no. 12 (December 12, 2016): 1695–719. http://dx.doi.org/10.1108/mrr-10-2015-0249.
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Purpose The purpose of this paper is to provide an insight into differences in work values and Person–Organisation (P–O) fit of Baby Boomers, Gen X and Gen Y in India and to understand the relationship between (P–O) fit values and turnover intention of Generation Y employees. Design/methodology/approach The work values were measured using an adapted version of Lyons Work Values scale. The generational differences in work values and P–O fit were studied using multivariate analysis of variance and relationship between P–O fit values and turnover intention of Gen Y employees was studied using polynomial regression and response surface methodology. Findings Significant differences in work values were observed between Generation Y and older generations. Generation Y also reported significantly higher discrepancy in P–O fit values than Generation X and Baby Boomers. This had an effect on their turnover intention. Research limitations/implications A cross-sectional design was used to study the generational differences in work values where the generation effects may have been confounded with age effects. Practical implications The differences in work values and P–O fit values of Generation Y and older generations provide input into designing organisation systems and structures more suitable for younger generations to manage the high turnover among Generation Y in India. Originality/value This is one of the first studies on generational differences in work values and P–O fit in the Indian context. It is also one of the first to investigate relationship between P–O fit and turnover intention of Generation Y in India.
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Khan, Ruby, and Shabnam Khan. "Reform of Indirect Taxes in India through the Plexus of Goods and Services Tax (GST); A post-COVID 19 Fiscal Stimulus." International Journal of Multidisciplinary: Applied Business and Education Research 3, no. 6 (June 12, 2022): 1011–16. http://dx.doi.org/10.11594/ijmaber.03.06.06.
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GST is a major tax reform in India that has been in the works for a long time due to political concerns and competing stakeholders' interests. It was first launched in April 2010, but the goods and services tax (GST) went into effect on July 1, 2017. The primary goal of GST is to consolidate all indirect taxes in India, including the central excise tax (CET), the value-added tax (VAT), and the service tax, into a single taxation structure. It improves the country's taxation system by increasing transparency and reducing tax evasion and corruption. The GST concept, its features, GST advantages, and their influence on the Indian economy are all discussed in this article.